#bitcoin 🔥Analysis: Bitcoin bulls brace for recovery as over $10B in liquidations signal market reset
Bitcoin’s market has seen a major reset, with over $10 billion in open interest wiped out in just two months, leading analysts to believe that a Bitcoin price recovery is imminent.
According CryptoQuant analyst Darkfost’s latest market analysis post on X, on Jan. 17, Bitcoin’s Bitcoin#BitcoinForecast
-0.95%
Bitcoin open interest hit a record $33 billion, signaling extreme leverage in the market. However, political uncertainty tied to former U.S. President Donald Trump’s recent actions led to a wave of liquidations.#BitcoinLiquidation
Subsequently, nearly $10 billion in open interest vanished between Feb. 20 and Mar. 4. This sharp decline pushed Bitcoin’s 90-day futures open interest change down to -14%, often signaling market resets before price recoveries. Analysts believe that eliminating excessive speculation, these stages provide a more stable basis for future growth. #Bitcoinhaving
Bitcoin’s long-term outlook is still optimistic despite the decline. According to economist Timothy Peterson, April and October are usually when Bitcoin experiences the biggest seasonal gains. Peterson’s most recent analysis reveals that Bitcoin might hit new all-time highs before June, with a median target of $126,000 #BitcoinDunyamiz
